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After being In the Las Vegas property management business for 15+ years, one of the most frequent calls/questions I have received in the past few years from prospective landlords is “do you handle short term rental properties”? This is simply based on the fact that companies like AirBnB and VRBO have made it very easy to rent their homes directly to short term guests for a nice profit. My answer is always the same for Southern Nevada rental properties - the political influence from the hotel industry Years ago has materialized with laws that Prohibit short-term rentals in unincorporated Clark County. Why would our massive hotel industry lose out on revenue to individual homeowners?
This influence is continuing to derail short-term rentals. As you can see in the article below from the Las Vegas Sun Newspaper. Our local code enforcement agents now have the ability to fine landowners who are in violation of our Nevada law. Simply by attaching the fine to the annual property tax bill.
This issue is beginning to pick up steam since owners within these neighborhoods can easily report homes that are in violation. Many of my potential clients that are inquiring about Las Vegas property management are thankful that they didn’t attempt their hand at the short-term rental market. To market your home as a short-term rental property, your initial investment can be anywhere from $5000 up to $50,000 or more for furnishings, linens, kitchen appliances, and all the other amenities that are required to market for short- term guests. While we are experts in Las Vegas and Henderson property management, planning to store landlord’s furniture or ship it back to their home city is not our expertise.
Two months ago, Henderson’s city Council voted to allow short-term rentals and Henderson with the proper permits and licensing. Many investors are unaware of the restrictions that homeowner associations put on properties. Typically, most homeowner’s association rules and regulations require a minimum of six-month lease. This nearly eliminates most the newer areas of Henderson, including where the Las Vegas Raiders are building their practice facilities. Unfortunately, the area that investors would have to look at are in the older parts of downtown Henderson. Now investors should invest into remodeling the older homes and upgrading them for marketability. These decisions should be discussed with their Las Vegas real estate agents or Henderson property management companies prior. If you are ever looking at investing into the short-term rentals, I encourage you to reach out to me to discuss your various options.
Sincerely,
Michael J. Robinson
Written by Kelcia Grega
Las Vegas Sun - August 21, 2019 post
https://lasvegassun.com/news/2019/aug/21/short-term-rental-violators-clark-county-tax-bill/
